Question

Describe economics as an art ?

• A. It prescribes what should be done to promote human welfare.
• B. Economics offers us practical guidance in the solution of economic problems.
• C. Both
• D. None

Answer 1

Answer: (B)

Economics offers us practical guidance in the solution of economic problems.

According to Pigou, Marshall, etc., Economics is considered as an art.

In other way, art is the practical application of knowledge for achieving particular goals. Therefore, considering the activities in economics, it can be claimed as art also, because it gives guidance to the solutions of all the economic problems.